Autonomous Ships Market

Autonomous Ships Market Size Valued at USD 15 Billion, market Grow at a CAGR Of 7% by 2020 -2030.

The autonomous ships industry is projected to be primarily driven by the increasing demand for cargo transportation through machines. Rising marine accidents caused due to human errors are likely to grow the need for an efficient device that is likely to favor the trade progress during the assessment period. The surging requirement to curb the environmental footprint of maritime traffic is predicted to be another salient cause, which can augment the industry in the coming period. Furthermore, on-going innovations in Autonomous Ships Market Overview are anticipated to bolster the market in the assessment period.

On the other hand, cybersecurity threats are expected to hinder market growth in the forecast period. However, the lack of sailors and the growing adoption of information and communication technology are likely to counter the hampering cause that can boost the autonomous ships market.

Key Players

Some of the renowned Autonomous Ships Market Players are General Electric (US), Honeywell International, Inc. (US), ABB (Switzerland), Kongsberg Group (Norway), Hyundai Heavy Industries Co., Ltd (South Korea), Ulstein Group ASA (Norway), Rolls-Royce (UK)

Market Segmentation

The autonomous ships market segmentation is done by solution, fit, ship type, and autonomy.

The solution-based segments of the global market for autonomous ships market are systems, software, and solutions. Among all, the systems augment is anticipated to dominate the market during the forecast period.

The fit-based segments of the global market for autonomous ships market are line fit and retrofit. The line-fit segment is expected to dominate the market in the forecast period.

The ship type-based segments of the global market for autonomous ships market are commercial and defense. Between the two segments, the commercial segment is expected to record a higher CAGR during the forecast period.

The autonomy-based segments of the global market for autonomous ships market are partial automation, remote operations, and full automation. Among all, the automation segment is anticipated to record the highest CAGR during the projection period.

Regional Analysis

As per the Autonomous Ships Market Size analysis performed by MRFR, the market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).

APAC is likely to dominate the global market during the review period due to rapid economic development resulting in a rise in maritime trade. The increasing demand for ships for the transportation of manufactured goods worldwide. Among all countries, South Korea, China, and Japan are expected to make the most significant contribution in developing the regional market. Furthermore, a rise in budgets of shipping companies for the incorporation of ICT in vessels is another crucial factor that can grow the market in the coming period.

Europe is anticipated to be the fastest-growing region owing to the growing demand for cruise ships and autonomous ships. The increasing adoption of autonomous systems and components in ships is likely to strengthen the regional market during the review period. Furthermore, technological development in the vessel is predicted to grow the regional market.

North America is expected to grow significantly during the forecast period owing to the growing adoption of automated systems in ships. The US is projected to make the most significant contribution during the review period.

MEA is expected to acquire the least market share during the forecast period owing to lack of awareness and sluggish development owing to the economic instability.

Autonomous Ships Market Research Report: Information by Autonomy (Partial Automation, Remote Operations and Full Automation, Ship Type (Commercial and Defense), Solution (Systems, Software and Structures), Fit (Line Fit and Retrofit) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2030 @https://www.marketresearchfuture.com/reports/autonomous-ships-market-8103

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